Dynex Capital Announces CMBS Refinancing

Dynex Capital, Inc. announced today its will refinance approximately $74.2 million in collateralized financings with repurchase agreement financing in order to take advantage of the lower interest rate environment and reduce its overall borrowing costs.

Approximately $23.7 million in the collateralized financings is a securitization financing bond issued by the company in 1998 and which finances commercial mortgage loans included in the Company's financial statements. The bond has recently been upgraded to double-A from single-A plus, reflecting the high quality of the associated loan collateral.

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